Imax Leads China Film Stocks Higher on Record Ticket Sales
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Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed local box-office revenue hit a record high for the Lunar New Year.
Ticket sales for the first five days of the Lunar New Year holidays starting Feb. 11 touched 5.7 billion yuan ($880 million), about 33% more than the same period in 2019, which was the previous record, according to Maoyan Entertainment, with Chinese films emerging as the top contributors.